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Jun 30, 2022
Popular Q2 2022 Earnings Report
Reported net income of $211.4 million, with increases in net interest income and non-interest income.
Key Takeaways
Popular, Inc. reported a net income of $211.4 million for the quarter ended June 30, 2022. The company saw increases in both net interest income and non-interest income compared to the first quarter. Loan growth was broad-based, with balances increasing in all categories except mortgage.
Net income reached $211.4 million.
Net interest income increased by $39.6 million to $533.9 million.
Loan growth was broad based with balances increasing in all categories, except mortgage.
Credit quality remained strong with net charge offs at near record lows.
Revenue by Geographic Location
Forward Guidance
The Corporation expects its ETR for the year 2022 to be within a range from 17% to 20%. This range includes the impact of the recently closed Evertec transaction and the effect of the expected reduction in Popular’s voting interest in Evertec through the sale of its holdings of common stock or a conversion of such shares to non-voting preferred stock, either of which would trigger mark-to-market accounting on any remaining stake in Evertec.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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